Released 10/11/2021 - Joint media release
The ACT Government is committed to bringing more housing options to the ACT with a market sounding process for Build-to-Rent starting today.
Build-to-Rent offers high quality homes that are designed to meet the needs of renters, offering a great place to live, longer rental periods and greater security.
By adding to the supply of diverse housing options in the ACT, we are increasing housing choice and improving the rental market in Canberra.
The Build-to-Rent model focusses on increasing the supply of long-term rental housing with the construction of multi-unit developments designed specifically for renters rather than buyers.
Canberra offers a supportive environment to develop Build-to-Rent projects, with low rental vacancy rates and a stable workforce.
“We believe Build-to-Rent offers a great opportunity for industry investors looking for long term options that will also help to improve housing availability, diversity and choice. Through this process we are seeking feedback and interest on bringing Build-to-Rent to Canberra,” Chief Minister Andrew Barr said.
The market sounding process is the first step in bringing Build-to-Rent to Canberra. Through the Suburban Land Agency, the ACT Government is seeking feedback – not just from industry and investors, but also from the community housing sector and others who are interested in Build-to-Rent models in Canberra.
“The ACT Government has a long-term commitment to support people on low incomes with housing opportunities. We are looking for feedback to help us bring Build-to-Rent options, including affordable rental, to our city to help people in our community,” Minister for Housing and Suburban Development, Yvette Berry said.
Build-to-Rent is part of the ACT Housing Strategy to improve rental supply and affordability, addressing some of the unique and complex challenges that exist in the current housing market.
“The ACT Government committed $720,000 in the 2021-22 ACT Budget to investigate Build-to-Rent and seek feedback from the market on building and operating long-term Build-to-Rent developments with affordable rental housing on land release sites in Turner and Lawson,” Chief Minister Barr said.
“The Build-to-Rent model is just one of the many ways we are working to meet the Territory’s diverse and changing housing needs now and into the future. Most importantly, we are making a difference to the sustainable supply of housing for households at all income levels,” Minister Berry said.
For more information visit: https://suburbanland.act.gov.au/en/build-to-rent.
- Statement ends -
Andrew Barr, MLA | Yvette Berry, MLA | Media Releases